How Long Does a Wire Transfer Take?

Written by Amanda Dixon

Edited by Marie White, CEPF®

Edited by Lena Borrelli

Updated on April 14, 2025, 1:00pm ET

In the past, writing a check was one of the only ways to send money, but that is no longer the case. Today, you also have the option of wiring money to a checking account. Wire transfers are secure and fast, typically taking within one to two days in the U.S. These institution-to-institution transfers can be a great solution when handling large amounts of money or sending funds abroad.

If you need help with managing your money and building a long-term financial plan, speak with a financial advisor today.

How Long Do Wire Transfers Take?

Transfers typically happen quickly, but the exact amount of time depends on the type of transfer.

Domestic bank transfers can generally take one to two business days.
Transfers between accounts at the same financial institution can take less than 24 hours.
Wire transfers via a non-bank money transfer service may happen within minutes.
For international wire transfers, it may take as many as five days for funds to be received.

To find out exactly how long a wire transfer will take, check with your bank or credit union. There may be a way to expedite the process if you are in a rush, but keep in mind that there are occasionally delays. If the bank sending the funds makes a mistake, a wire transfer may take longer than expected, and holidays can also disrupt wire transfers. Prepare for delays if you are receiving money from a slow-to-pay country, such as Afghanistan or Cuba.

How Wire Transfers Work

Originally, wire transfers happened through telegraph wires, thus the term “wire transfer.” These days, wire transfers involve the electronic movement of funds between different banks and credit unions. Since the term wire transfer is essentially a catch-all phrase, it may also refer to the wiring of money through a non-bank transfer service such as MoneyGram or Western Union – instead of traditional bank-to-bank transfers.

You can wire money domestically through the Federal Reserve Wire Network (Fedwire) or the privately run Clearing House Interbank Payments System (CHIPS). If you need to send money internationally, you can do so through CHIPS or the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

When you wire funds, you are not transferring actual cash from one bank to another. Since wire transfers are electronic, a bank can complete the transaction if it has specific information regarding the recipient and the amount of money you are sending. After the transfer takes place, the funds are available fairly quickly.

If you are the recipient in a wire transfer, you will need to make sure the person sending you money has your correct bank account number and routing number. It is also a good idea to contact someone who works at your bank or credit union or check online. You may need to follow a specific set of instructions or provide the payee with additional details.

Wire Transfer Fees

There are often costs that accompany a wire transfer. These can include:

Digital wire fees
Branch wire fees
Third-party fees
Conversion fees
International fees

Before sending a wire transfer, be sure to check with your bank to see what fees may apply to your transaction. To get an idea of what you might pay, take a look through our article on average wire transfer fees.

How to Wire Money

To wire money to another person through a bank-to-bank transfer, you will need certain details:

Your bank account number
The recipient’s name
The recipient’s bank account number
The recipient’s bank routing number

For international transfersIf you’re sending money internationally, you may need to ask the recipient for a SWIFT code. If you need assistance, you and your recipient may need to contact representatives from your respective banks.

Generally, you can wire money to a bank online, over the phone or in person. Be prepared to provide your bank with specific instructions, including how much money you want the recipient to receive. Since you or the bank teller will likely need to complete a form in order for the transfer to occur, it is important to ensure that the information you provide is correct so your money is successfully transferred to the right person.

Wire Transfers Through Non-Bank Services

If transferring money through a non-bank money transfer service like MoneyGram, you will need to find out how the wiring process works. In some cases you may not need a bank account to complete the transfer – generally, using these types of services allow you to pay cash in person.

Once the transaction is complete, the recipient typically gets to walk away with money he or she received.

Can You Cancel a Wire Transfer?

A man waiting for an international wire transfer to go through.

Wire transfers are normally final. Once the recipient’s bank accepts the transfer and receives the funds, the transaction is complete. At that point, you likely will not be able to get your money back.

There are a few exceptions, however.

Your wire transfer may be reversible if the bank that initiated the transfer made a mistake. For example, if the recipient received more money than he or she was supposed to, that issue may be resolved.

If you begin a wire transfer but change your mind about sending someone money, you may be able to cancel the transaction. However, you will need to act quickly. A relatively new rule under the Dodd-Frank Wall Street Reform and Consumer Protection Act says that consumers sending money internationally usually have the right to cancel their wire transfers for free within a 30-minute period.

You can also reverse a wire transfer if the money is taking a long time to reach its destination or goes to the wrong account. For international wire transfers, note that you may also lose money if the currency exchange is lower on the date of the reversal. In either case, make sure to consult your bank for additional fees or terms before sending money.

Bottom Line

Wire transfers provide a fast and secure method of sending money electronically. The downside is that senders and recipients likely both have to pay a fee. Domestic transfers can typically cost up to $35, while international transfers can cost up to $50 or more. For a lower-cost electronic transfer method, you may be better off using a payment app or mobile banking system.

Tips for Finding a Bank Account

Both traditional and online banks offer a wide range of options for deposit accounts, with various savings, checking and money market accounts available. Some accounts may earn below the average rate while still offering some handy savings perks. It’s up to you to decide which features benefit you most.
If you’re not happy by the low-earning accounts at brick-and-mortar banks, consider whether you’d be comfortable with an online bank. You won’t have access to physical branches, but you’ll typically still have access to ATMs and mobile apps. Online banks are more likely to offer the highest rates to boost your savings.